1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ehidna [41]
2 years ago
6

the interest paid for borrowing qn amount of money for 3yrs at the rate of 4%is n108 find the amount of the money borrowed

Mathematics
1 answer:
bazaltina [42]2 years ago
8 0

The amount of the money borrowed is 864.941

So the amount of money over time can be given with an exponential function y=a(b)^x or more specifically y=a(1+r)^x   where r is the growth rate (interest rate)

So the equation can be written as

m=(1.04)^t

   Where m represents the amount of money over time, P represents the principal amount, and t represents time in years. Since we're given the amount of interest paid and not the total amount which includes the initial amount borrowed you have to subtract P from the equation. This will give us the equation that we'll use to find the initial amount

I=P(1.04)^t-P where I represent the interest paid.

plug the values into the equation

108=P(1.04)^3-P\\P=864.941

Therefore the amount of the money borrowed is 864.941.

To learn more about the borrowed money visit:

brainly.com/question/25895372

#SPJ1

You might be interested in
What does 3 (2x - 4) = 8x 14 equal?
jeka57 [31]
6x - 12 = 8x + 14
2x = - 26
x = - 13
5 0
3 years ago
What is the algebraic expression of the difference of 4 times a and b?
vagabundo [1.1K]

Answer:

4(a+b)

Step-by-step explanation:

5 0
3 years ago
Can someone please help me?
fiasKO [112]

Answer:

?????????????????????????

3 0
3 years ago
Bob is thinking about leasing a car with a MSRP of $24,000 for three years. After three years, the leasing company expects the c
KengaRu [80]

Answer:C. 17,280

Step-by-step explanation:It this way because it cant be 3k obv or 6k. And it says 72% down not up so not d either :D

5 0
3 years ago
Read 2 more answers
Explain how to solve this problem in your own words.​
natta225 [31]

Answer:

3 m^8

Step-by-step explanation:

We know that a^b / a^c = a^( b-c)  so using the quotient rule for exponents

3 * m^( 7 - -1)

3 *m^(8)

7 0
3 years ago
Other questions:
  • How would you solve 4n-2n=4?
    11·2 answers
  • Please explain how to simplify the equation <br><br> 3-(x+7)/(2)=9
    6·2 answers
  • Rock can read 10 books in 30 minutes. How long does it take rock to read 15 books, if the speed is consistent?
    10·1 answer
  • A ​used-boat dealership buys a boat for ​$2800 and then sells it for ​$4000. What is the percent​ increase?
    12·1 answer
  • Which set of numerical values represents the minimum, lower quartile, median, upper quartile, and maximum, in that order, of the
    12·2 answers
  • FIND THE VOLUME OF A CONE 0F DIAMETER 14M AND HEIGHT 21CM. (TAKE = 3 )
    6·1 answer
  • 11/15-3/5 in fraction
    13·1 answer
  • What is the difference in the rule of reflection for a point reflected across y=x and a point reflected across y=-x
    10·1 answer
  • What fraction of an hour is 32 minutes<br> Give your answer in its simplest form
    7·2 answers
  • Nos últimos anos, as queimadas no Pantanal vêm aumentando significativamente por diversos motivos, dos quais os mais comum são a
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!